At least one in five active WeChat users are set up for WeChat “Payments”, a process that begins in the Wallet menu by linking a banking or credit card to the user account. Being set up for WeChat Payments means instant, frictionless ability to transact on the WeChat Wallet services, all official accounts that sell products or services, and any associated promotions or campaigns.
WeChat is almost completely foreign to the average American, but it’s a powerhouse in China. Reading this article is a good introduction to the service, how it works, and just how the various U.S. tech companies are trying to compete. For example, WeChat’s Wallet has already pulled off what Apple is trying to do with the iOS Apple Pay APIs.